Insider Buying: The Manitowoc Company, Inc. (NYSE:MTW) CEO Acquires $26,040.00 in Stock

The Manitowoc Company, Inc. (NYSE:MTW) CEO Aaron H. Ravenscroft acquired 3,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the transaction, the chief executive officer now owns 690,142 shares of the company’s stock, valued at $5,990,432.56. This trade represents a 0.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Manitowoc Stock Up 2.3 %

MTW opened at $10.05 on Friday. The Manitowoc Company, Inc. has a twelve month low of $7.06 and a twelve month high of $13.46. The firm has a market cap of $356.19 million, a price-to-earnings ratio of 6.48 and a beta of 1.92. The firm’s 50-day simple moving average is $8.59 and its 200-day simple moving average is $9.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The firm had revenue of $470.90 million for the quarter, compared to analyst estimates of $479.39 million. Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. Equities research analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered their price target on shares of Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group cut their price target on shares of Manitowoc from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Manitowoc currently has a consensus rating of “Hold” and a consensus price target of $10.46.

Hedge Funds Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently bought and sold shares of MTW. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Manitowoc in the fourth quarter valued at about $35,000. R Squared Ltd bought a new stake in shares of Manitowoc during the fourth quarter valued at approximately $66,000. Quantbot Technologies LP increased its holdings in shares of Manitowoc by 20.9% in the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 1,771 shares in the last quarter. LPL Financial LLC raised its position in Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 1,030 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Manitowoc by 3,309.6% during the 1st quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock worth $104,000 after buying an additional 11,782 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.